The news sent the company's shares 9% higher in extended trading on Tuesday.
The news sent the company's shares 9% higher in extended trading on Tuesday and underscored a shift in focus at Pinterest to e-commerce initiatives from its advertising-based business model.
His appointment brings to an end Silbermann's 12-year tenure as CEO, which began when he co-founded the company in 2010. Pinterest has grown rapidly since then and now has more than 430 million monthly active users.
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